It can be done, but just know it will be more single minded, one thing at a time. And it will run better tweaking the OS to use less resources. You will need over 1gb of ram for best results. (and I see you have 1.5 so that will work) stuff like factory handwriting utility won't have to be loaded.
How do you plan to use your Mk1?
Yours should have the 2100A wireless card, get at least a 2915ABG to replace it.
The CF-18 is the same basic hardware so you can look to some of those threads for help also.
CF-18B/C (Mk1) -- Intel 855GM
CF-29C/D -- Intel 855GMhttp://forum.notebookreview.com/panason ... 8-mk1.html
There are lots of other threads linked in the TBT CF-18 Guide also.http://forum.notebookreview.com/panason ... creen.html
For some of the special Panasonic drivers like Misc driver you will have to go to a newer unit and download that driver for it.http://www.adepttech.com/blog/?p=17
I have seen this link recomended before, but have never read through this page so it may be useful for reference.